What Is Lowe's Organizational Structure?
The Hierarchy of Needs: A Case Study
The most widely used theory of motivation is the hierarchy of needs theory. The need to be respected and self-esteem are two of the five needs that are divided into five classes by Maslow. The employees' needs are taken care of by the company.
Employees of the company are helped through the recession. When the economic crisis broke out, the CEO pay hourly employees at the wholesale club increased by 1.5 per hour. The industry suffered a huge blow in the year of 2013 as the company wrote the value of its brand to zero due to a lot of debt and store closings.
The company lost $536M in the year ended in 2012 and has lost 158 stores, 75% of its suppliers and 15% of its European staff. Billabong's investment in their retail stores is the reason why they have become a worldwide brand. Other competitors entered the Australian Market in order to overcome Billabong.
Lowe's Design for the Gulf Region
In 2006 Lowe's contracted designer Marianne Cusato develop and offer affordable house plans for the Gulf region. Lowe's is the exclusive retailer for both the plans and building materials. They offer easy construction and affordability.
The Organizational Structure of a Growing Company
A company's organizational structure is a road map of its communication patterns. As the organization grows, a well-designed structure can make it easier to identify inefficiencies. It is important to review your organizational structure on a regular basis to ensure that you are set up for optimal growth.
Communication is the biggest factor in any structure. Creating formal paths of communication is what an organizational structure is all about. Think about how you want your employees to communicate and then create a structure that reinforces that.
Every company has its own organizational structure. You have to evaluate your company's strategy and mission before you build your organizational structure. Some structures seem to work better than others, depending on your goals, but there isn't a right way to organize your staff.
A growing company has special considerations. As you grow, your organizational-structure needs will change. Size makes it difficult to interact and perform.
People specialize where once everyone did a little of everything. Increasing your staff can lead to impersonal communication. The best thing for an entrepreneur to do is to accept that the dilemma between freedom and structure can never be solved.
Wall Street index rises as the stock market reopen
The Australian share market was expected to open higher on Wednesday after the Wall Street index rose overnight. Lowe's speech in the capital is likely.
Lowe's Brand Analysis
Lowe's brand is analyzed by its strengths, weaknesses, opportunities and threats. The strengths and weaknesses are internal factors, whereas opportunities and threats are external. Lowe's can benchmark its business and performance against its competitors using a proven management framework called the SWOT Analysis. Lowe's is a brand that is well known in the retail and lifestyle sectors.
The Amazon Divider
The strategic advantage of splitting the company into geographic divisions is that it will allow Amazon to better address issues in each region and do so more efficiently. The advantage to Amazon is that it allows it to quickly and effectively address directives from senior managers, executives and stakeholders. Global and geographic divisions are beneficial in supporting the focus on different aspects of the business and geographic locations that come with their own challenges and economic conditions.
The Lowe's Home Improvement Category
Lowe's is a leading American retailer. Lowe's has thousands of products in its home improvement range on the shelf. One can visit the online platform for the same and custom order if there is a specific need.
Cleaning supplies, hardware, animal and pet care, plumbing, paints, entertainment, home and commercial appliances are some of the departments. Lowe's offers automotive and kitchen improvement products. If a product is found with a lower price, one can bring it and get a 10% discount.
Lowe's has a special credit card that allows 5% discount on everyday purchases and makes it easy to pay. They usually price their product to eat away competitors market share. The company has a revenue of more than 70 billion dollars.
Lowe's treat their employees with care and respect. Lowe's has 300,000 employees. Depending on the size and sales volume, a Lowe's store can have up to 400 employees.
The company's profitability is increased by every employee. The value added helps the company grow. Lowe's is a large home improvement store that sells all kinds of furniture.